OpenAI employees set to gain millions from private stock sale as valuation hits $157 billion

About 400 current and former OpenAI employees are set to become millionaires through a private stock sale at $210 per share. This sale, arranged with Japan's SoftBank Group, comes as OpenAI's valuation reaches $157 billion. Eligible employees, who received restricted stock units at least two years ago, can cash out up to $10 million each. Former employees are guaranteed at least $2 million, but may receive less if demand exceeds supply. SoftBank plans to invest up to $1.6 billion in OpenAI stock, following a $500 million investment in a recent fundraising round. OpenAI has relaxed its rules, allowing more equitable participation for former employees in this tender offer.